Photonic Raises $100 Million

Photonic is a quantum startup creating solutions that have the potential to transform industries such as computing, communication, and sensing. The company is actively working on developing quantum computing systems that leverage photons as qubits, the fundamental units of quantum information. This has the potential to revolutionize fields such as drug discovery, optimization, and cryptography, enabling to solve complex problems at an unprecedented pace.

Photonic has secured $100 million in funding. The funding was contributed by a range of investors including the British Columbia Investment Management Corporation (BCI), Microsoft Corporation, the UK government’s National Security Strategic Investment Fund (NSSIF), Inovia Capital, and Amadeus Capital Partners. In total, Photonic has raised $140 million till that moment.

Photonic, Vancouver, British Columbia, Canada, was founded in 2016 by Stephanie Simmons and Michael Thewalt. Paul Terry, the Chief Executive Officer of Photonic, noted: “Photonic’s game-changing approach to quantum computing is continuously energised by our dedicated investors and top-tier employees. The confidence shown by our investors in our team and our innovative technology is a testament to the path we’re forging.” As of now, the company employs over 120 staff and has recently expanded with new offices in the UK and the US.

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